Musk Says Apple Losing Luster; Ford May Fail in Next Recession

03 November, 2018, 04:27 | Author: Eric Barnett
  • Tesla Investors Urge Directors to Go Beyond SEC's Board Overhaul

The subpoena confirms that the SEC is investigating the company's production claims.

But now Tesla seems to finally be taking a step toward the vision the company first laid out in 2016.

Some critics express concern over vehicles being in the line of sight, however, Musk clarifies that Tesla has chosen this route not for convenience or as an engineering choice, but rather for safety.

The company originally said in its third-quarter earnings call previous year that it would reach full production of 5,000 Model 3s per week in the first quarter of 2018.

At the time, Tesla said it was cooperating with authorities and stated "to our knowledge, no government agency in any ongoing investigation has concluded that any wrongdoing occurred".

Department of Justice prosecutors have also asked for the company to provide information about production numbers, according to Tesla, although it stopped short of issuing a formal subpoena.


A year ago, a group of shareholders sued the company in federal court alleging that it made false statements about Model 3 production and misled investors.

Tesla finally met that target in June of this year. It's also key to the company's cash flow and pledge to make quarterly net profits into the future.

The company said then it had booked $52 million in "zero emission vehicle" credit sales. Next time, Ford may not be so lucky, he said.

Tesla Inc. said on Friday that it is developing plans to start producing about 3,000 Model 3 vehicles per week in Shanghai in the initial phase of its Gigafactory 3 to reduce the impact of tariffs.

Tesla shares closed up less than half a percent to $346.41 on Friday.

Recommended:



Popular

Hulk Hogan Returns To WWE At Crown Jewel PPV In Saudi Arabia
The WWE legend just signed a new deal with the company to compete on Smackdown Live, the brand he made the biggest impact on. WWE Crown Jewel will have a live telecast on Sony Ten 1, Sony Ten 1 HD (both English) and Ten 3, Ten 3 HD (both Hindi).

Red Dead Redemption 2 Soundtrack Announced, Features Over 110 Contributing Musicians
To our knowledge, this is the first story of its kind, with video game coverage often relying on leaks and insider sources. It's a radical move that raises serious questions about editorial independence and legal threats against the press.

Destiny 2 Free to Download on PC Until November 18
Once you have claimed the gift, open the Battle.net client and click on the Destiny 2 tab to start downloading. This does not, of course, include the Forsaken expansion, but it includes all of the content up to that point.

The American probe broke the record approaches the Sun
As the probe makes it ever-closer shaves of the Sun, it will study our star in ways never before possible. This unmanned spacecraft, built at the cost of 1.5 billion dollars, was launched in August.

International NGOs issue stark warning to Bolsonaro on climate change & human rights
One area where Bolsonaro can act immediately, however, is on indigenous rights. He has previously spoken out against lands reserved for indigenous tribes.

JR Smith admits he'd like to be traded from Cavs
The Cavs acquired him in 2015 and he became a key piece in their teams that reached four straight NBA Finals from 2015-18. Last year, former Phoenix Suns guard Eric Bledsoe was fined $10,000 for a tweet saying: "I don't wanna be here".

Canada Post strike hits Montreal, with 6000 workers walking off the job
Rotation strike action by the Canadian Union of Postal Workers continues in Nanaimo, Port Alberni, and Courtenay Oct. 31. Canada Post employees in the Peace region are noting they will be part of rotating strike action this morning.

Samsung Galaxy J7 Duo latest update brings AR Emoji support
No doubt more details will leak in the meantime, so we should start getting some idea of what to expect in a few months time. Samsung introduced the Iris scanner in Note 7, but it wasn't very accurate and now it seems Samsung is ditching it.

Maulana Samiul Haq assassinated at Rawalpindi residence
Punjab Chief Minister Usman Buzdar also denounced the assassination and sought a report from the Inspector General Punjab Police. The religious scholar was the founder of the Haqqania seminary, where dozens of Afghan leaders have received their education.

A Terrified James Corden Lets Barbra Streisand Drive During ‘Carpool Karaoke’
Streisand has battled stage fright most of her career, which once led to her taking a 27-year hiatus from touring. Streisand never mentions the president by name, but she doesn't have to. "They had a lot of fun".